We examine the association between the disclosure requirements of the International Financial Reporting Standards (IFRS) and the cost of capital for a sample of Australian firms. We find that these disclosure requirements have a negative association with the cost of capital. The interpretation is that firms with a higher level of IFRS disclosure have a lower cost of capital. Further analysis shows that IFRS disclosure requirements are negatively related to the cost of debt and equity capital. Our findings contribute to the debate on the relative costs and benefits of IFRS disclosure requirements and have important implications for standard setters, regulators and users of financial statements.

中文翻译：

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IFRS 披露要求是否会降低资本成本？来自澳大利亚的证据

我们研究了国际财务报告准则 (IFRS) 的披露要求与澳大利亚公司样本的资本成本之间的关联。我们发现这些披露要求与资本成本呈负相关。解释是具有较高 IFRS 披露水平的公司具有较低的资本成本。进一步分析表明，IFRS 披露要求与债务和权益资本成本呈负相关。我们的发现有助于就 IFRS 披露要求的相关成本和收益展开辩论，并对准则制定者、监管者和财务报表使用者产生重要影响。